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Evangelos Marinakis-backed, US-listed LNG carrier owner CCEC announced in a statement on Friday the formation of a 50/50 joint venture with shipping giant CMA CGM.
The JV has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel.
In connection with this transaction, the JV has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) for the construction of the vessel at a contract price of $82.8 million, with delivery expected in the third quarter of 2028, CCEC said.
In addition, the JV is expected to enter into a 12-year time charter with a joint venture company formed between CMA CGM and French energy giant TotalEnergies, commencing upon delivery of the vessel from the shipyard, CCEC added.
The JV marks CCEC’s entry into the LNG bunkering segment, the company’s first vessel dedicated to marine fuel supply.
LNG Prime was the first to report this move, citing shipbuilding sources, in March this year.
Sources told LNG Prime at the time that the JV of Capital and CMA CGM signed a letter of intent with CIMC SOE for up to two LNG bunkering vessels.
CMA CGM and TotalEnergies
This will also be the first LNG bunkering vessel owned by CMA CGM.
Last year, TotalEnergies and CMA CGM signed a deal to develop a 50/50 logistics joint venture dedicated to implementing and operating an LNG bunkering supply solution at the Dutch port of Rotterdam.
The joint venture will capitalize on TotalEnergies’ established logistics infrastructure in the ARA region, where the 18,600-cbm LNG bunkering vessel Gas Agility has been in operation since 2020.
As part of this new logistics joint venture, a new LNG bunkering vessel will be positioned in Rotterdam by the end of 2028 and jointly operated.
In August, China’s Hudong-Zhonghua said it had secured another order to build one 18,600-cbm LNG bunkering vessel for TotalEnergies and Spain’s shipping firm Ibaizabal.
Hudong-Zhonghua stated that this is an optional vessel as part of the 1+1 order announced in July last year, and it is scheduled for delivery in 2028, with plans to serve in the Dutch port of Rotterdam.